Also limits on-flight catering costs at foreign airports to save cost
According to sources, the central bank is keen on such a scheme to attract foreign exchange, as the country's reserves have seen a depletion in the wake of a weakening domestic currency.
Aviation companies plan to join hands for importing aviation turbine fuel (ATF) in a bid to bring down their fuel bills.
IATA informed travel agents that they would have to remit the ticket sale proceeds to airlines every week.
Ministry says capital infusion if loans extended only to productive sectors
High crude oil prices, which the central bank perceives as a risk to inflation, may limit the extent of rate cut to 25 basis points rather than 50 bps, economists said.
SBI keeps IDBI waiting for proposal to set up infra development fund
In January, banks had rejected SBI Caps' initial proposal on Air India's debt recast, which suggested converting a part of the carrier's debt into cumulative redeemable preference shares, with an eight per cent dividend.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
The government must guarantee the entire loan and the interest rate, so that there is no additional provisioning requirement.
Air India's debt recast plan has hit a deadlock with both the national carrier and banks continuing to stick to their stand even as the regulator has disapproved providing dispensation, thus only compounding the problem.
Writes to govt for legal amendment, proposes committee that'll consult other sector regulators.
The finance ministry's ambitious plan to implement portability in savings accounts has not found favour with the Reserve Bank of India (RBI).
Prefer proposal for airline to float bonds guaranteed by govt.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Banks face the grim possibility of a chunk of the unhedged loans turning bad.
The government has amended its laws to have a bigger say in the decision making of the Reserve Bank of India (RBI) by having two members on the central bank's board as compared to one now.
Jet Airways, the largest domestic airline, will merge its no-frills brands JetLite and Jet Konnect and operate under the brand name of the latter.
Maharashtra Cabinet changes norms to make present occupiers of slums eligible for rehabilitation.
The 3,000-odd cabin crew of Jet Airways cabin has been asked to take a day's leave without pay each month as a cost-saving exercise.
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